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Last undeveloped parcel at West Broad Village eyed for housing

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Posted at 5:55 PM, Jul 26, 2018
and last updated 2018-07-26 17:55:49-04

HENRICO, Va. — The final frontier of one of Short Pump’s largest mixed-use projects is back in play, this time for residential development.

Local private equity firm Markel | Eagle is looking to rezone the 12 acres it owns at the eastern edge of West Broad Village, where it hopes to build dozens of single-family homes and condos.

It’s the last undeveloped parcel in West Broad Village and the plans come as the bulk of the development’s commercial space is on the market for sale.

The 12-acre site initially was approved more than a decade ago for a 300-room hotel, and 12- and 14-story office towers. But those plans were shelved during the Great Recession and never materialized.

Markel | Eagle has owned the land since 2007, and once owned a larger stake in West Broad Village, including developing a large percentage of the townhomes in the residential section on the project’s western side.

“The residential component of this project has been very successful,” said Ricky Cole, principal with Markel | Eagle. “Given the demand we’re seeing for housing in Short Pump, this is now the best use for that site.”

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